Personal Mini Forex Trading Rules
By Ultimate Trading
There Are Mini Forex Trading Rules That Can Increase Your Chances Of Stock Market Success
To operate effectively in any
forex trading environment, you need rules and boundaries to
guide your behaviour. No matter what mini forex trading system
youve developed, the potential exists to do financial damage to
yourself - damage that can be greater than you think is possible.
There are many types of trades in which the risk of loss is
To prevent this kind of mini forex trading loss, you need to create
an internal structure in the form of guidelines that determine your
mini forex trading behaviour so you always act in your own best
interest. This structure has to be internal because the mini forex
trading market wont provide it for you. The markets provide
structure in the form of behaviour patterns that indicate when an
opportunity to buy or sell exists. But that's where the structure
ends - with a simple indication. Nothing happens until you decide to
start mini forex trading; you continue to trade as long as you want;
and there is no end until you decide to stop.
All the beginnings, middles, and endings of your mini forex trading
is the result of your interpretation of the information available
from the market. However, while the average trader may want the
freedom to make these choices, but that doesn't mean they are ready
and willing to accept the responsibility for the outcomes. The
reality of mini forex trading is that, if you want to be successful,
you have to accept that no matter what the outcome may be, you are
completely responsible. Not the mini forex trading market, not the
economy, not world events you.
Traders who are not ready to accept this responsibility can find
themselves in a dilemma: How do you participate in an activity that
allows complete freedom of choice and avoid taking responsibility if
the outcomes of your choices are poor? This can be accomplished by
adopting a mini forex trading style that is random. Random mini
forex trading can be defined as poorly planned trades, or trades
that are not planned at all.
Randomness in mini forex trading is unstructured freedom without
responsibility. When we trade without well-defined plans and with an
unlimited set of variables, it's very easy to take credit for the
trades that turn out to our liking, because in our minds we used
some kind of method. But at the same time, it's very easy to avoid
taking responsibility for the trades that didn't turn out the way we
wanted, because there's always some variable we didn't know about
and therefore couldn't take into consideration beforehand. Random
mini forex trading is an unorganized approach that doesnt allow you
to find out what works and what doesnt.
If the mini forex trading market's behaviour were truly random, then
it would be difficult, if not impossible, to create consistent
results. If it's impossible to generate consistent results, then we
really don't have to take responsibility. However, direct experience
with the market tells a different story. The same market behaviour
patterns present themselves over and over again. Even though the
outcome of each individual pattern is random, the outcome of a
series of patterns is consistent and statistically reliable.
These patterns can aid your mini forex trading if you choose to use
a disciplined, organized, and consistent approach. Many traders
spend hours doing market analysis and planning trades for the next
day. Then, instead of making the trades they planned, they do
something else. The trades they make are usually ideas from friends
or tips from brokers. By making unstructured, random trades, they
are able to avoid responsibility.
Why would they do this? When you act on your own ideas, you put your
abilities on the line and get instant feedback on how well your
ideas worked. It's difficult to rationalize away any unsatisfactory
endings, since theyre the direct results of actions. On the other
hand, when you enter unplanned, random mini forex trading, you shrug
off the responsibility by blaming your friend or broker for their
The nature of
forex trading itself also makes it easy to escape
responsibility. Any trade has the potential to be a winner, whether
youre a great analyst or a poor one. It takes a lot of effort to
create and follow a disciplined approach that will make you a
consistent winner. But if you invest the effort, you can achieve
success as a trader, and reap the benefits of the mini forex trading
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